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Insurance Regulatory Authority seeks to fast-track claims payment
Insurance Regulatory Authority (IRA) CEO and Commissioner of Insurance, Godfrey Kiptum, addresses the press at Sarova Whitesands Beach, Mombasa, on November 7, 2024.
The Insurance Regulatory Authority (IRA) has started the process of reviewing the current underwriting laws to cut claims payment period from the current 90 days besides improving the management of insurers.
The IRA is looking for a consultant to lead the review of the current legal framework, which will culminate in packaging the proposed changes in an Insurance Bill and subsidiary legislation for parliamentary approval.
